U.S.S. HOUSTON 
Morning Press News 
- 1 - 
25 July 1938 
New York : 
Wall Street traders worri 
of Directors of the U.S. 
dividend. The Street is 
did not earn its dividend 
failed to make expenses, 
finished steel is believe 
steel industry to operate 
out of the red. In" spite 
American steel companies 
the week ended July 17th. 
4 
San Saba. Texas: 
ed yesterday about the probable action 
Steel Corporation on the preferred 
agreed that the corporation not only 
during the present quarter, but also 
The recent cut in the price of 
d to have made it necessary for the 
at 5 Qffo of capacity in order to keep 
of the recent pickup in business, 
averaged only 36. 4-/3 of capacity during 
fresh rains intensified today the flood situation In Texas. 
The torrential rains sent the San Saba and Colorado Rivers 
far over ^ their banks, fertile farm lands were inundated 
over a wider area. State relief agencies assumed charge at 
points hard hit by the turbulent waters. At the town of Menard 
residents. were forced to flee to high ground as flood waters 
from the San Saba poured through the business section. Biver- 
men feared additional floods in towns along the course of the 
two rivers unless the skies cleared soon. 
Washington : 
former Prohibition Administrator Major A.V. Dalyrymple was 
cricitally injured today when he was struck by an Automobile 
in Washington. Major Dalrymple w as named prohibition adminis- 
trator at the beginning of President Roosevelt's administration 
.He succeeded Colonel Amos Woodstock. 
¥ 
San Saba. Texas: 
Coast Guard planes flew over flooded river areas today and 
directed efforts to rescue 23 persons marooned by rising 
streams. Boats sought to reach several families' atop roofs 
of their homes. 
Brookline, M a s s : 
Frank Kovach of California won the final round of the Longwood 
Tennis Tournament today when he smashed his way to a straight 
set over Charles Hare of England in the semi-final match. 
Kovach beat Hare 6-2, 6-4. 
4 
Long Branch. N.J.: 
British heavyweight Tommy Farr relinquished the British heavy- 
weight title today in a statement delivered at Long Branch. 
Tommy told transradio, that he had been promised first chance in 
a heavyweight elimination contest which Promoter Mike Jacobs 
said was due to begin in the Fall. Said Tommy, "It's evident 
that I'll be in the United States for several months trying to 
get a shot at the title and I dont want to hold up boxing in 
England. Therefore I've dropped -he title and the boys back 
home can go after it" : . 
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